Italy – Factors to consider on April 7 | Instant News


The following factors can affect the Italian market on Tuesday.

Reuters has not yet verified newspaper reports, and cannot guarantee its accuracy. New items are marked with (*).

For a complete list of diary events in Italy, please click.

ECONOMY

The Italian government on Monday approved a new emergency decision that would offer more than 400 billion euros ($ 432 billion) in value of liquidity and bank loans to companies hit by the coronavirus crisis.

ISTAT releases February retail sales data (0800 GMT) and March bulletin on the state of the economy (0900 GMT)

Bank of Italy releases March data on Target 2 obligations and European Central Bank funding for Italian banks.

DEBT

The Italian Ministry of Finance said on Monday that it would sell up to 9.5 billion euros in BTP bonds at an auction on April 9.

SALVATORE FERRAGAMO

The Italian luxury goods group reported Monday a 31.4% drop in first-quarter sales at a constant exchange rate when the new coronavirus pandemic struck its business in February-March.

The company said it currently skipped dividend payments in 2019 results and postponed its annual general meeting until May 8. (*) Ferragamo sees some positive signs in mainland China, but not in Hong Kong and Macau, the Italian group’s CEO Micaela Le Divelec Lemmi told MF.

AUTOMOBILES CHRSYLER FIAT

With their sales hammered by a coronavirus outbreak, carmaker Fiat Chrysler and owner of Peugeot PSA have postponed their shareholder meeting and are looking for ways to increase their reserves before the planned merger.

The automaker said it would extend automatic production shutdowns in the United States and Canada to all April and gradually restart facilities from May 4.

CNH INDUSTRIAL

The industrial vehicle maker said on Monday that it dropped a proposal to shareholders to approve the distribution of dividends at the April 16 AGM because of the “challenges and uncertainties” posed by the emergency of the new corona virus.

ENEL, TELECOM ITALIA

After the Italian competition watchdog fined Telecom Italia (TIM) 116 million euros for abusing its dominant position in the broadband market, small rival Open Fiber will sue the former state telephone monopoly for damage, Open Fiber CEO Elisabetta Ripa told La Stampa. Ripa also ruled out the possibility of making a single fiber network under TIM control.

FINECOBANK

The Italian asset manager said Monday that it has suspended dividend payments on the 2019 results as requested by regulators given the current coronavirus emergency.

SAFILO

The Italian eyewear maker said on Monday that the 2020 view given in December could no longer be considered valid given the impact of the new coronavirus on its business. It said preliminary data showed an 11-13% decline in net sales at a constant exchange rate in the first quarter compared to the same period in 2019. (*) After the coronavirus outbreak, the situation in China returned to normal and Safilo saw a “positive trend” in online sales and wholesaler in the country, CEO of the eyewear group Angelo Trocchia told Il Sole 24 Ore.

UNICREDIT

The bank said it plans to exercise on May 3 the right to redeem Tier II bonds that mature in 2025 before maturity after receiving the required authorization from the regulator.

DIASORIN

The Italian diagnostic group announced the launch of an automatic serological test to detect antibodies to SARS-COV-2 at the end of April.

DIARY

The Foreign Press Association held a conference with Deputy Governor of the Region of Lombardy Fabrizio Sala (1400 GMT).

The Government’s Special Commissioner for Coronavirus Emergency Domenico Arcuri holds a press conference (1100 GMT)

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